HK's Coolpad says major shareholder sells stake for $103 mln

Coolpad

05/01/2018 01:06

HONG KONG, Jan 5 (Reuters) - Chinese smartphone maker 
Coolpad Group  2369.HK , part of the cash-strapped LeEco 
technology conglomerate, said top shareholder Leview Mobile HK 
Limited had sold HK$807.7 million ($103 million) shares, 
reducing its stake to 10.95 percent from 28.78 percent. 
    Leview Mobile has sold 897.4 million shares, or 17.83 
percent of Coolpad, at HK$0.9 apiece to Power Sun Ventures 
Limited, resulting in the British Virgin Islands incorporated 
firm becoming the single largest shareholder, the Hong 
Kong-listed firm said in a filing late on Thursday.  
    It gave no details on Power Sun. 
    Data Dreamland Holding Ltd remains as the third-largest 
shareholder with 9.2 percent of Coolpad. 
    In November, Coolpad said Jia Yueting had resigned as 
chairman.  urn:newsml:reuters.com:*:nFWN1NN07R  
    Jia, the high-profile founder of struggling Chinese tech 
conglomerate LeEco, has been placed on an official blacklist of 
debt defaulters, a further blow to a firm that had spent heavily 
to compete in areas from smart cars to online entertainment. 
 urn:newsml:reuters.com:*:nL3N1OD1EJ 
        
 
($1 = 7.8180 Hong Kong dollars) 
 
 (Reporting by Donny Kwok; Editing by Stephen Coates) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: COOLPAD GROUP SHARESALE/